Latest news with #Ortex
News18
07-07-2025
- Business
- News18
US Markets: Dow, S&P 500, Nasdaq Sink As Trump Announces 25% Tariffs On Japan, South Korea
US stocks fell sharply on Monday after President Donald Trump announced fresh 25% tariffs on imports from Japan and South Korea US stocks declined on Monday as President Donald Trump renewed tariff threats against key trading partners, announcing plans to impose 25% duties on imports from Japan and South Korea starting August 1. The Dow Jones Industrial Average dropped over 400 points, or around 1%, while the S&P 500 fell 0.9%. The tech-heavy Nasdaq Composite also declined 0.9%, with Tesla shares under pressure amid concerns over CEO Elon Musk's intention to launch a political party. Markets pulled back from record closing highs as investors reacted to the escalating trade tensions. On Monday, Trump shared letters on social media addressed to the leaders of South Korea and Japan, confirming that the 25% tariffs would be implemented at the beginning of next month. US President Donald Trump warned late Sunday that any country aligning with the 'anti-American policies of BRICS" will face an additional 10% tariff. 'There will be no exceptions to this policy," he stated in a social media post. The remark came after BRICS — a bloc that includes key US trading partners like China and India — criticized Trump's tariff stance during its recent summit. The latest escalation adds fuel to already-heightened trade tensions, as global economies scramble to secure deals ahead of Trump's July 9 deadline. That's when his 90-day pause on elevated tariffs, first announced in April, is set to expire. So far, the US has only finalized deals with the UK and Vietnam and is working toward a framework agreement with China. Bessent suggested several deals could still be reached in the coming days, with priority given to securing clarity from 18 major trading partners before finalizing tariffs for over 100 additional countries on the administration's list. Meanwhile, Tesla (TSLA) shares slumped 7% on Monday following renewed tensions between Elon Musk and President Trump, along with investor concerns over the elimination of electric vehicle tax credits under Trump's proposed budget. According to data from Ortex, short sellers are estimated to have profited by about $1.4 billion due to the drop in Tesla's share price. Fueling the decline, Musk announced over the weekend via X (formerly Twitter) that he plans to launch a new political platform called the 'America Party." Trump responded swiftly on social media, claiming Musk had gone 'completely off the rails." Amid all the geopolitical and political volatility, markets are also turning their attention to earnings. Delta Air Lines (DAL) will unofficially kick off the second-quarter results season with its report due on Thursday.
Business Times
07-07-2025
- Business
- Business Times
Tesla short sellers set to pocket about US$1.4 billion in profits after stock slump
[NEW YORK] Traders are set to make about US$1.4 billion in paper profits from their short positions in Tesla shares on Monday (Jul 7) after CEO Elon Musk's plans to launch a new US political party heightened concerns about his commitment to the company's future. The company's shares slumped 7.5 per cent in early trading after Musk's political move, which followed an open feud with Donald Trump over the US president's tax-cut and spending bill. At a price of US$296, investors betting against the EV-maker are on tack to make about US$1.4 billion in profits, according to data analytics firm Ortex. Short sellers had clocked more than US$4 billion in profits on June 5, a day when Tesla saw its biggest single-day drop in market value after Trump and Musk's discord erupted into an all-out social media brawl. Tesla's shares fell 7.5 per cent at US$291.50, having lost more than 21 per cent so far this year. REUTERS
Yahoo
07-07-2025
- Business
- Yahoo
Tesla short sellers set to pocket about $1.4 billion in profits after stock slump
(Reuters) -Traders are set to make about $1.4 billion in paper profits from their short positions in Tesla shares on Monday after CEO Elon Musk's plans to launch a new U.S. political party heightened concerns about his commitment to the company's future. The company's shares slumped 7.5% in early trading after Musk's political move, which followed an open feud with Donald Trump over the U.S. president's tax-cut and spending bill. At a price of $296, investors betting against the EV-maker are on tack to make about $1.4 billion in profits, according to data analytics firm Ortex. Short sellers had clocked more than $4 billion in profits on June 5, a day when Tesla saw its biggest single-day drop in market value after Trump and Musk's discord erupted into an all-out social media brawl. Tesla's shares fell 7.5% at $291.50, having lost more than 21% so far this year.
Yahoo
07-07-2025
- Automotive
- Yahoo
Tesla short sellers set to pocket about $1.4 billion in profits after stock slump
(Reuters) -Traders are set to make about $1.4 billion in paper profits from their short positions in Tesla shares on Monday after CEO Elon Musk's plans to launch a new U.S. political party heightened concerns about his commitment to the company's future. The company's shares slumped 7.5% in early trading after Musk's political move, which followed an open feud with Donald Trump over the U.S. president's tax-cut and spending bill. At a price of $296, investors betting against the EV-maker are on tack to make about $1.4 billion in profits, according to data analytics firm Ortex. Short sellers had clocked more than $4 billion in profits on June 5, a day when Tesla saw its biggest single-day drop in market value after Trump and Musk's discord erupted into an all-out social media brawl. Tesla's shares fell 7.5% at $291.50, having lost more than 21% so far this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
13-06-2025
- Business
- Business Insider
Short Report: Short interest in JetBlue receding
Welcome to this week's installment of 'The Short Interest Report' – The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 1.8%, the Nasdaq Composite was up 1.9%, the Russell 2000 index was up 2.1%, the Russell 2000 Growth ETF (IWO) was up 1.6%, and the Russell 2000 Value ETF (IWN) was up 2.6% in the five-day trading session range through June 12. Confident Investing Starts Here: SHORT INTEREST GAINERS Ortex-reported short interest on United Parks & Resorts (PRKS) hit its lowest level of two months at 19.4% on Monday, though bearish interest was piqued the rest of the week, with shorts as a percentage of free float jumping two points to 21.4%. Days-to-cover on the name has also turned higher, rising 60bps to 8.1, with volumes on the name remaining steady. Heading into the company's mid-May earnings, shares had erased all of the macro-induced declines seen in early April, though United's softer than expected earnings and revenue eventually saw price action pivot lower over the past month despite sell-side commentary attributing the underperformance to factors such as the weather. Shares are now down 12% from pre-earnings levels and were off by 1.5% in the five-day period covered. Year-to-date, the stock is also down about 26%. Ortex-reported short interest on 800-Flowers (FLWS) has seen its upward slope steepen since January, and this week, bearish appetite was particularly pronounced. Shorts as a percentage of free float on the stock jumped from 57.8% to a new record high of 68.4%, topping last month's high-water mark of 67.5%, while days-to-cover on the name rose from 16.0 to 16.3. Likewise, the Ortex estimates are in step with exchange-reported data, which saw short interest on 800-Flowers hit record high above 73% as of May-end. In the five-day period covered through Thursday, the stock is up 1.4%, though year-to-date, shares have shed 38%, with the most recent decline in price reflecting the management's decision to pull guidance due to macro uncertainty. Ortex-reported short interest on Kura Sushi (KRUS) troughed in the 16%-17% range over the mid-March to late-April period but has since turned higher, with bears still questioning the recent bounce in the stock price. This week, shorts as a percentage of free float was up three percentage points to 27.8%, a seven-month high, and days to cover jumped 100bps to 7.3. Exchange-reported data also support the Ortex estimate as it has seen short increase rise from 16.3% mid-April to 26.6% by May-end. In the five-day period covered through Thursday, the stock is up 7.1% and shares have doubled from April lows, though year-to-date, Kura Sushi is still down about 11%. Following a surge during the month of March from 23% to 31%, Ortex-reported short interest on HighPeak Energy (HPK) retreated to 24% by late April. Following quieter May however, bears are biting into the name harder this week. In the five-day period covered through Thursday, shorts as a percentage of free float were up from 27.2% to roughly 30%. The stock price, meanwhile, has tracked the resurgence in optimism for the Energy sector. In the five-day period covered, HighPeak shares were up 7% and have now gained 44% from late-April lows. The stock is also up about 4% in early Friday trade, tracking the rally in oil prices. Ortex-reported short interest in JetBlue Airways (JBLU) peaked around 23% in late April, though despite shares starting to roll over after gaining 16% over the month of May, bears have turned more skittish. Shorts as a percentage of free float were down three points this week to 17.5% and days-to-cover on the name was down a decimal to 3.2. Exchange-reported data through May-end has likewise shown a drop from 20.6% to 17.3%. The stock, meanwhile, was down 2.9% in the five-day period covered and has traded off by another 4% in the opening hour of Friday session, with airlines bearing the brunt of an oil price shock following Israel's surprise strike against Iran overnight as well as more cautious sentiment following Air India Boeing crash yesterday.
